Injury cases, unfortunately, happen every day, and they often result in devastating consequences. When someone is injured in a motor vehicle accident, for instance, they may be left with medical bills, lost wages, and other financial burdens. If you’ve been injured in Philadelphia, Pennsylvania, and you believe your case is worth $1 million, but your lawyer disagrees, the question is, “how do you value an injury case?” In this blog post, we will explore how Philadelphia injury lawyers and insurance companies determine the value of an injury case. We will also examine how a jury decides the worth of a case.
Firstly, it’s worth mentioning that not every injury case is worth a million dollars or more. In many cases, the value is determined based on the severity of the injury, the impact it has on the person’s life, and other factors, such as the cost of medical treatment, the length of recovery, the effect on future earning potential, and the impact on the person’s quality of life. A qualified and experienced Philadelphia injury lawyer will know how to gather all the facts surrounding your injury, analyze them, and determine what your case is worth.
The lawyer will use several methods to evaluate the worth of the case. One of the most important is the calculation of economic damages, which includes all the financial losses that you incurred because of the injury. This includes things like medical bills, lost wages, and future earning capacity. Non-economic damages are another important factor, which includes damages like pain and suffering, loss of enjoyment of life, and emotional distress. The lawyer will also consider any punitive damages if the defendant’s conduct was so outrageous or reckless that it deserves additional punishment.
Apart from the lawyer, an insurance company will value an injury case differently. They have a different set of criteria for calculating the worth of a case. Insurance companies will often consider the same factors, including medical bills, lost wages, and future earning capacity. However, they may also consider the potential for future medical expenses. Typically, insurance companies are inclined to settle cases quickly, and they may even make lowball offers that do not consider the full value of the case.
If the case goes to trial, a jury will determine the worth of the case. The jury will consider what happened in the case, how severe the injury is, and the impact it has on the injured person’s life. They will also consider the credibility of the witnesses, the evidence presented, and the arguments made by both sides. After considering all these factors, the jury will decide how much the plaintiff should be awarded.
Determining the value of an injury case is not an exact science. Many factors come into play, including the nature of the injury, the cost of medical treatment, and the impact it has on the person’s life. A Philadelphia injury lawyer will evaluate all the evidence surrounding your case and determine what it’s worth. Insurance companies may have a different view, and they may offer lowball settlements that do not consider the full value of the case. Whether or not the case goes to trial, a jury will decide the worth of the case. If you believe that your case is worth more than what your lawyer thinks, it’s important to discuss your concerns with your lawyer and have them explain how they arrived at their valuation. With the right representation and evidence, you can get the compensation you deserve.
In conclusion, while underinsurance and uninsured motor coverage is designed to protect drivers, the amount of compensation you will receive from your insurance company in the event of an accident will depend on the specifics of your coverage, deductibles, and policy limits. However, if you are involved in an accident and your UM/UIM claim is denied, you do have the right to contest the insurer’s decision and seek professional legal assistance. So make sure to understand your insurance policy carefully, and always consult with an expert insurance lawyer to ensure that you are prepared for the worst-case scenario. Stay safe on the road!